Hartline Investment Corp Decreases Stake in The Goldman Sachs Group, Inc. $GS

Hartline Investment Corp lowered its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 15.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 561 shares of the investment management company’s stock after selling 100 shares during the quarter. Hartline Investment Corp’s holdings in The Goldman Sachs Group were worth $397,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in GS. Brighton Jones LLC lifted its stake in The Goldman Sachs Group by 17.1% in the fourth quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company’s stock worth $1,989,000 after acquiring an additional 508 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in The Goldman Sachs Group by 7.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 888 shares of the investment management company’s stock worth $508,000 after acquiring an additional 58 shares during the last quarter. GAMMA Investing LLC lifted its stake in The Goldman Sachs Group by 17.1% in the first quarter. GAMMA Investing LLC now owns 7,279 shares of the investment management company’s stock worth $3,977,000 after acquiring an additional 1,062 shares during the last quarter. Cornerstone Wealth Management LLC lifted its stake in The Goldman Sachs Group by 53.4% in the first quarter. Cornerstone Wealth Management LLC now owns 1,434 shares of the investment management company’s stock worth $783,000 after acquiring an additional 499 shares during the last quarter. Finally, Johnson Investment Counsel Inc. lifted its stake in The Goldman Sachs Group by 7.4% in the first quarter. Johnson Investment Counsel Inc. now owns 4,125 shares of the investment management company’s stock worth $2,254,000 after acquiring an additional 284 shares during the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Stock Performance

Shares of The Goldman Sachs Group stock opened at $750.71 on Friday. The firm’s fifty day simple moving average is $765.25 and its 200-day simple moving average is $669.67. The stock has a market capitalization of $227.25 billion, a price-to-earnings ratio of 15.25, a PEG ratio of 1.40 and a beta of 1.42. The Goldman Sachs Group, Inc. has a 12 month low of $439.38 and a 12 month high of $825.25. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.11 and a quick ratio of 0.67.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Tuesday, October 14th. The investment management company reported $12.25 EPS for the quarter, beating analysts’ consensus estimates of $10.27 by $1.98. The business had revenue of $11.33 billion for the quarter, compared to analysts’ expectations of $13.68 billion. The Goldman Sachs Group had a net margin of 13.18% and a return on equity of 14.79%. The company’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the previous year, the company posted $8.40 EPS. As a group, equities analysts forecast that The Goldman Sachs Group, Inc. will post 47.12 earnings per share for the current year.

The Goldman Sachs Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 2nd will be issued a $4.00 dividend. This represents a $16.00 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Tuesday, December 2nd. The Goldman Sachs Group’s payout ratio is presently 32.50%.

Insider Buying and Selling at The Goldman Sachs Group

In other news, CEO David M. Solomon sold 6,608 shares of The Goldman Sachs Group stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $712.31, for a total value of $4,706,944.48. Following the transaction, the chief executive officer directly owned 126,176 shares of the company’s stock, valued at $89,876,426.56. The trade was a 4.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO John E. Waldron sold 9,244 shares of the business’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $750.11, for a total transaction of $6,934,016.84. Following the completion of the transaction, the chief operating officer directly owned 115,268 shares in the company, valued at $86,463,679.48. This represents a 7.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,323 shares of company stock valued at $28,111,828. Insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on GS shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of The Goldman Sachs Group in a research note on Wednesday, October 8th. Barclays boosted their price objective on shares of The Goldman Sachs Group from $720.00 to $850.00 and gave the stock an “overweight” rating in a research report on Wednesday. UBS Group boosted their price objective on shares of The Goldman Sachs Group from $762.00 to $805.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. BMO Capital Markets assumed coverage on shares of The Goldman Sachs Group in a research report on Friday, October 3rd. They set a “market perform” rating and a $785.00 price objective for the company. Finally, Wells Fargo & Company boosted their price objective on shares of The Goldman Sachs Group from $785.00 to $855.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 16th. Four research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, The Goldman Sachs Group currently has a consensus rating of “Hold” and a consensus target price of $770.73.

The Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc, a financial institution, provides a range of financial services for corporations, financial institutions, governments, and individuals worldwide. It operates through Global Banking & Markets, Asset & Wealth Management, and Platform Solutions segments. The Global Banking & Markets segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and relationship lending, and acquisition financing, as well as secured lending, through structured credit and asset-backed lending and involved in financing under securities to resale agreements.